Business, 04.10.2020 18:01 kalebrayburn62

Bonnie claims single with 2 federal withholding allowances, and contributes state tax of 20% of her federal tax. Below is a copy of Bonnie's biweekly statement of earnings. Bonnie knows that her gross earnings and federal tax are correct, but
she thinks that her net pay is not correct.
Earnings
Regular
Week Ended
NET PAY
FED.
MITH.
$50.00
SOC. MED
WITH. CARE.
$47.12 $110.20
Deductions
STATE
WITH
$10.00
4/15
$760.00
$542.68
Using the fact that Social Security is 6.2% and Medicare is 1.45% of gross pay, explain why the given net pay is not
correct. Determine how the error can be corrected, and what the net pay should be.

Answers: 2

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Bonnie claims single with 2 federal withholding allowances, and contributes state tax of 20% of her...

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